RentoMojo Sets Price Band At ₹384-₹404 For ₹1,256 Cr IPO
Furniture and appliance rental company RentoMojo has set a price band of ₹384-₹404 per share for its upcoming IPO. At…
RentoMojo, a furniture and appliance rental company, has set its IPO price band between ₹384 and ₹404 per share. The public issue will be worth ₹1,255.6 Cr, made up of a fresh share issuance of ₹150 Cr and an OFS (offering for sale) of up to 2.7 Cr shares valued at ₹1,105.6 Cr. With the upper price band, RentoMojo aims for a post-offer market capitalisation of around ₹4,206.3 Cr.
The IPO will be open for bidding from September 9 to September 11, with anchor investors able to place bids on September 8. Employees can bid at a discounted price of ₹20 per share. Notable investors include Accel, Chiratae Ventures, Edelweiss Mutual Fund, and GMO Venture, who plan to sell shares through the OFS. Co-founder Geetansh Bamania is set to offload up to 8.5 lakh shares.
Upon the proceeds, ₹70 Cr will be used to repay borrowings, while ₹42.5 Cr will be allocated towards rental payments for offline stores and warehouses, with the remaining capital for general corporate purposes. Established in 2014 by Bamania and Ajay Nain, RentoMojo operates a subscription-based platform for renting home essentials, with 20 warehouses and 82 stores in 29 cities as of March 2026.
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